Laredo Petroleum, Inc. (NYSE:LPI) had its price target decreased by BMO Capital Markets from $14.00 to $11.00 in a report issued on Thursday, November 2nd. BMO Capital Markets currently has a market perform rating on the oil and gas producer’s stock.
LPI has been the topic of several other reports. Zacks Investment Research downgraded shares of Laredo Petroleum from a buy rating to a hold rating in a research report on Friday, October 20th. Williams Capital boosted their price target on shares of Laredo Petroleum from $13.00 to $14.00 and gave the stock a hold rating in a research report on Wednesday, October 18th. Stifel Nicolaus restated a buy rating and issued a $17.00 price target on shares of Laredo Petroleum in a research report on Friday, July 14th. Cowen and Company set a $12.00 price target on shares of Laredo Petroleum and gave the stock a hold rating in a research report on Tuesday, July 18th. Finally, KeyCorp restated a hold rating on shares of Laredo Petroleum in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $14.45.
Laredo Petroleum (NYSE LPI) traded down $0.70 on Thursday, hitting $10.12. 3,181,100 shares of the stock were exchanged, compared to its average volume of 3,694,521. Laredo Petroleum has a one year low of $9.57 and a one year high of $16.47. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 4.16. The firm has a market cap of $2,623.99, a P/E ratio of 22.08, a P/E/G ratio of 4.35 and a beta of 1.39.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Laredo Petroleum had a net margin of 15.92% and a return on equity of 43.77%. The company had revenue of $205.82 million during the quarter, compared to analyst estimates of $178.48 million. During the same quarter in the previous year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. equities analysts predict that Laredo Petroleum will post 0.5 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Laredo Petroleum by 7.9% during the second quarter. Vanguard Group Inc. now owns 16,083,332 shares of the oil and gas producer’s stock valued at $169,197,000 after purchasing an additional 1,176,608 shares during the last quarter. BlackRock Inc. lifted its holdings in Laredo Petroleum by 2,500.3% during the first quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock valued at $110,946,000 after purchasing an additional 7,306,738 shares during the last quarter. WS Management Lllp increased its position in shares of Laredo Petroleum by 50.8% during the third quarter. WS Management Lllp now owns 5,934,700 shares of the oil and gas producer’s stock valued at $76,736,000 after buying an additional 2,000,000 shares during the period. State Street Corp increased its position in shares of Laredo Petroleum by 15.9% during the second quarter. State Street Corp now owns 5,810,244 shares of the oil and gas producer’s stock valued at $61,121,000 after buying an additional 799,073 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of Laredo Petroleum by 1.8% during the third quarter. Van ECK Associates Corp now owns 4,045,680 shares of the oil and gas producer’s stock valued at $52,311,000 after buying an additional 71,104 shares during the period.
About Laredo Petroleum
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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